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Mr. Victor de Castro Nunes Corporate + Mergers & Acquisitions
applicable to the combined increase and reduction in a company’s share capital, as a corporate operation. Victor de Castro Nunes is the co-author of the
Portuguese chapter of ‘Getting the Deal Through – Mergers & Acquisitions’ (Law Business Research). He is also considered by Legalease to be a Corporate and M&A European Legal Expert.
Victor de Castro Nunes was born in January 1968 and is currently living and established in Lisbon, Portugal. Victor de Castro Nunes is one of the founding partners of Portugal’s Baião, Castro & Associados | BCS Advogados and heads the firm’s Corporate and M&A practice. He is regularly involved, inter alia, in M&A deals, both domestic and transnational, corporate restructurings, debt and equity operations and privatizations. For instance, already in the verge of the global crisis, Victor de Castro Nunes has led the legal team representing Government-owned Águas de Portugal within the successful privatization of its wholly owned subsidiary Aquapor, a water supply and waste treatment reference player in the market. Besides Portuguese, his mother tongue, Victor de Castro Nunes is fluent in English and Spanish and speaks French. Having graduated from the Faculty of Law of the
University of Lisbon in 1990, he started his professional career as in-house counsel at one of Portugal’s leading investment banks (Banco Millenniumbcp Investimento). This extremely demanding, valuable and rewarding experience was a crucial milestone and has undoubtedly defined a route for Victor’s professional career. In 1993, Victor de Castro Nunes qualified and became
a full member of Portugal’s Bar Association (thus, becoming a Barrister in his country of origin). For one year, from 1993 to 1994, Victor de Castro Nunes
lived in London, on the Mile End Road / QMUL Campus. As an internal student based on the Centre for Commercial Law Studies (CCLS) of the Queen Mary, University of London College (or Queen Mary & Westfield College, as it was then named), he has completed his specialized course of study (LL.M.) and was consequently admitted by the University of London to the Degree of Master of Laws (in the subject grouping of International Business Law). There, Victor de Castro Nunes had the invaluable privilege to be taught each and all of the following subjects by some of the most prominent global scholars and practitioners: International Tax Law, Commercial Arbitration (under the auspices of the world-renowned School of International Arbitration), Legal Aspects of International Finance and International Trade Law. After returning to Lisbon, Victor de Castro Nunes has
become, and has subsequently remained, a full time business lawyer. Apart from his core professional activity, he has also taught tax law and economy law at the Faculty of Law of the University of Lisbon (from 1995 to 1997) and has, some years later (in 2006) been admitted by the Faculty of Law of the Portuguese Catholic University to the Degree of Master of Laws. For the purpose, Victor de Castro Nunes has researched and written a dissertation on the rules
SOME THOUGHTS OF VICTOR DE CASTRO NUNES CONCERNING 2011: Despite the global recession and the steep restriction of funding that frustrated or, at least, delayed most M&A prospects in Portugal, mergers and acquisitions between companies based in relevant emerging economies (such as Angola and Brazil) and Portugal based companies have increased in recent years. In fact, Angolan and Brazilian companies are currently the owners of some 5% of the stock issued by listed Portuguese companies. Portugal’s current budgetary constraints and sovereign
(and external) debt crisis shall most unfortunately generate additional difficulties on the side of Portuguese investors and businesses. Moreover, the excessive weight of the public sector and of Government–owned companies alongside with still stringent pro-worker labor regulations are comparative disadvantages that should be carefully addressed by a prospective investor. In addition, the banking sector in Portugal is likely to undergo some significant adjustments in response to economic recession and new capital adequacy requirements. A number of attractions and opportunities remain for
outside investors looking at conducting business or making investment in Portugal. Among them: plenty of viable businesses looking for funding/private equity/new partners; those arising out of the Government relatively ambitious privatization program; the availability of a range of significant incentives for large investment projects, domestic or foreign; real estate prices dropping; and Portugal being a platform for further investment in Angola and other Portuguese-speaking countries. The aforementioned severe restrictions on financial
leverage for transactions and the lack and/or cost of funding, have made it more relevant than ever to have resort to solid and reputable advisors as critical factor for a successful transaction.
Contact:
Victor de Castro Nunes Baião, Castro & Associados BCS Advogados
Avenida 5 de Outubro, n. 17, 8th and 9th floors, 1050-047 Lisbon, Portugal
Tel: +351 21 319 06 47 Fax: +351 21 319 06 44 Email:
vcn@bcs.pt Website:
www.bcs.pt
fi MONTHLY MARCH 2011 19
Leading ADVISOR 100
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